NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw strong trading volume on Tuesday . 1,918,939 shares traded hands during trading, an increase of 254% from the previous session’s volume of 542,557 shares.The stock last traded at $18.36 and had previously closed at $20.47.

Wall Street Analysts Forecast Growth

NAMS has been the subject of several recent research reports. Scotiabank boosted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Needham & Company LLC reduced their price target on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma Trading Down 1.2 %

The stock has a 50-day moving average price of $21.29 and a two-hundred day moving average price of $21.27. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -6.92 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. Research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, Director James N. Topper purchased 4,005 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $21.02 per share, with a total value of $84,185.10. Following the completion of the acquisition, the director now owns 3,012,434 shares of the company’s stock, valued at $63,321,362.68. The trade was a 0.13 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the sale, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. The trade was a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.50% of the stock is currently owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at approximately $50,000. National Bank of Canada FI acquired a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $80,000. Quarry LP increased its position in shares of NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares during the last quarter. Finally, Barclays PLC raised its position in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.